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Property profile & analytics
FOR LEASE
Retail space
1 Park Pl Annapolis, MD 21401
Entity Owned
14-yr Hold
~
Est. High Equity
Property ID
US40-1404538
For Lease
1 / 2
$5,995,000
1 Park Pl, Annapolis, MD 21401
View Listing →
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2007
Total area
18,438 SF
Lot
1 ac (43,560 SF)
Zoning code
MX
APN
06-667-90222204
UPID
US40-1404538
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Merrill Lynch Financial Advisor Casey Thrush Financial Advisor
-
DATUM LLC (Bike/Boat/Book/etc) Store Corporate Office
-
Linowes and Blocher LLP Law Firm
-
Midgett Jr Parker S Law Firm
-
SESYNC Research Institute
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$4.02M
Comparable Approach
Comparable
$6.55M
Blend (final)
Blend
$6.00M
Owner & transaction history
Guardian Park Place LLC · 14 yrs held
Guardian Park Place LLC
since 2012
2 recorded transactions
Zoning & alternative use
MX · Annapolis, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$9.0M
+17.2%
Industrial (general)
$8.4M
+9.9%
Auto repair, garage
$7.8M
+2.6%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Annapolis submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Annapolis submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$4,350,000
6.5%
$4,015,000
7%
$3,730,000
Alternative Use
Use
Estimation
RETAIL STORES
$7,640,000
Current use
RESTAURANT
$8,960,000
Change: +17% · Conversion: Easy
INDUSTRIAL (GENERAL)
$8,400,000
Change: +10% · Conversion: Difficult
AUTO REPAIR, GARAGE
$7,840,000
Change: +3% · Conversion: Difficult
MEDICAL BUILDING
$6,750,000
Change: -12% · Conversion: Difficult
COMMERCIAL (GENERAL)
$6,390,000
Change: -16% · Conversion: Easy
WAREHOUSE, STORAGE
$6,150,000
Change: -20% · Conversion: Difficult
Blend value · Realmo final
$6.00M
Range $5.40M – $6.59M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$325 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$553,778
Tax year 2023
Assessed value
$38,563,900
Assessed 2023
Previous assessed
$35,835,267
+7.6% YoY
Effective rate
1.44%
On assessed value
Assessed land
$2,796,300
Assessed improvement
$35,767,600
Land market value
$2,796,300
Improvement market value
$35,767,600
Total market value
$38,563,900
Applied tax rate
1.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
For Lease
Year built
2007
Heating
HOT WATER
Cooling
AC.CHILLED WATER
Stories
5
Units
3
Total area
18,438 SF
Lot
1 ac (43,560 SF)
Zoning code
MX
APN
06-667-90222204
UPID
US40-1404538
Jurisdiction
ANNE ARUNDEL
Zoning & alternative use
MX · Annapolis, MD
Zoning MX · permitted uses
MX · Annapolis, MD
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Annapolis. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$7.6M
RESTAURANT
Est. value
$9.0M
INDUSTRIAL (GENERAL)
Est. value
$8.4M
AUTO REPAIR, GARAGE
Est. value
$7.8M
MEDICAL BUILDING
Est. value
$6.8M
COMMERCIAL (GENERAL)
Est. value
$6.4M
WAREHOUSE, STORAGE
Est. value
$6.2M
RETAIL STORES Current
RESTAURANT
INDUSTRIAL (GENERAL)
AUTO REPAIR, GARAGE
MEDICAL BUILDING
COMMERCIAL (GENERAL)
WAREHOUSE, STORAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2007
Heating
HOT WATER
Cooling
Yes
Stories
5
Units
3
Lot
1 ac
Current owner
From public records · entity-resolved
Guardian Park Place LLC
Entity
Mailing address
10 HUDSON YARDS FL #20, NEW YORK, NY 10001-2159
Ownership since
2012
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 23, 2021
—
Guardian Park Place LLC
—
Deed
related
$25,200,000 · Banner Life Insurance Company
Mar 1, 2012
$38,500
Guardian Park Place LLC
Park Place Trust
Grant Deed
$25,000 · Teachers Insurance & Annuity
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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